EQUITY RESIDENTIAL EQR Income Statement

Equity residential (EQR)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09	Sep'08	Jun'08
REVENUES
Rental income
2,720	2,700	2,669	2,636	2,607	2,577	2,555	2,526	2,499	2,470	2,445	2,427	2,409	2,422	2,518	2,606	2,688	2,736	2,698	2,665	2,639	2,605	2,579	2,541	2,506	2,378	2,139	1,964	1,796	1,737	1,421	1,463	1,496	1,516	1,521	1,482	1,448	1,446	1,533	1,559	1,592	1,610	1,944	1,977	0	0	0
Fee and asset management
0	0	0	0	0	0	0	0	0	0	0	0	0	3	5	7	9	8	8	8	8	9	9	10	10	9	9	10	9	9	9	9	9	9	8	7	8	9	10	10	9	10	10	10	0	0	0
Total revenues
2,720	2,701	2,669	2,637	2,607	2,578	2,556	2,527	2,500	2,471	2,446	2,428	2,410	2,425	2,523	2,613	2,697	2,744	2,706	2,674	2,647	2,614	2,589	2,551	2,516	2,387	2,149	1,974	1,805	1,747	1,431	1,473	1,505	1,525	1,530	1,490	1,457	1,456	1,543	1,569	1,602	1,620	1,954	1,987	0	0	0
EXPENSES
Property and maintenance
447	446	445	440	436	429	421	415	410	405	403	403	400	406	423	442	463	479	476	474	472	473	479	478	476	449	397	365	337	332	264	279	292	304	304	307	308	323	326	344	360	365	498	506	0	0	0
Real estate taxes and insurance
372	366	359	359	357	357	350	347	345	335	331	329	318	317	324	327	333	339	334	329	329	325	321	317	310	293	265	242	219	206	173	177	178	178	172	171	169	172	193	191	190	187	210	207	0	0	0
Property management
96	95	96	96	95	92	89	88	86	85	82	81	80	82	85	86	86	86	88	86	85	85	82	82	83	84	82	82	81	81	82	82	82	81	82	82	81	79	74	74	72	71	75	76	0	0	0
General and administrative
51	52	53	54	52	53	53	53	54	52	50	50	55	57	61	64	61	64	60	54	52	50	56	60	63	62	57	52	50	47	48	48	45	43	41	41	40	39	39	39	39	38	40	42	0	0	0
Fee and asset management
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6	6	6	6	5	5	5	4	4	4	4	4	3	3	3	4	5	6	7	7	7	7	0	0	0
Depreciation
839	831	818	801	793	785	784	774	761	743	720	715	711	705	709	726	744	765	777	772	768	758	748	834	967	978	923	786	608	560	466	486	495	506	511	509	517	505	551	537	518	514	574	570	0	0	0
Total expenses
1,807	1,792	1,772	1,752	1,735	1,719	1,699	1,678	1,658	1,622	1,589	1,579	1,566	1,569	1,604	1,646	1,690	1,735	1,733	1,715	1,706	1,693	1,694	1,780	1,909	1,875	1,732	1,535	1,301	1,233	1,039	1,079	1,100	1,118	1,161	1,160	1,167	1,171	1,191	1,194	1,200	1,196	1,418	1,421	0	0	0
Income before net gain on sales of real estate properties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain (loss) on sales of real estate properties
655	447	269	253	114	256	272	174	262	157	314	387	357	4,044	3,910	3,887	3,978	335	409	357	0	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment
-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0
Operating income
1,568	1,356	1,166	1,137	986	1,115	1,267	1,146	1,139	1,004	856	848	843	856	919	967	1,007	1,009	972	958	940	921	894	771	607	512	416	439	503	514	391	393	405	406	369	329	290	284	352	375	402	424	536	565	0	0	0
Interest and other income
4	2	2	9	10	15	15	11	11	6	6	7	63	65	65	60	10	7	8	8	4	4	6	7	5	5	82	151	151	151	71	7	7	7	6	0	3	4	5	8	12	16	18	20	0	0	0
Other expenses
17	18	13	18	17	17	16	10	7	5	-0	8	8	10	14	5	5	2	4	8	8	9	9	8	8	29	-18	-19	-11	-27	21	20	16	12	11	12	9	11	13	12	10	6	4	3	0	0	0
Merger Expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest:
Expense incurred, net
380	390	381	406	392	413	416	396	393	383	384	379	374	482	496	524	549	444	444	448	453	457	496	498	505	586	-363	-370	-378	-455	453	452	457	460	461	470	464	457	479	479	481	490	482	481	0	0	0
Amortization of deferred financing costs
11	11	10	11	9	11	11	9	9	8	9	9	9	12	13	13	13	10	10	10	10	11	15	16	18	22	-15	-16	-17	-21	14	16	16	16	13	11	9	9	10	11	12	12	11	10	0	0	0
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels
1,163	939	763	711	577	688	838	740	739	613	470	458	513	416	460	484	449	558	521	500	472	448	380	255	80	-121	-109	-9	55	160	-29	-91	-80	-76	-111	-163	-189	-189	-145	-118	-89	-68	56	91	0	0	0
Income and other tax (expense) benefit
-2	-2	0	0	0	0	0	0	0	0	1	1	1	1	1	1	1	0	0	0	1	1	0	1	0	1	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2	3	5	0	0	0
Income (loss) from investments in unconsolidated entities
65	65	66	66	-3	-3	-4	-3	-3	-3	-3	4	4	4	6	-2	10	15	16	16	-3	-7	-10	-12	-13	-58	-57	-54	-46	-0	-0	0	0	-	0	-	-	-0	-1	-1	-3	-2	-2	-2	0	0	0
Net gain (loss) on sales of land parcels
-	2	3	0	0	-	-	0	-	19	19	23	23	15	15	11	11	-0	3	4	5	5	1	-1	12	12	12	14	0	-	0	0	-	-	0	0	-	-	0	-	-	-	-	-	-	0	-
(Loss) from investments in unconsolidated entities due to merger expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on sales of unconsolidated entities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	28	32	13	8	10	6	2	0	0	0
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	4,479	4,391	4,379	4,449	907	935	961	765	657	484	239	78	-168	-156	-50	8	160	-30	-92	-77	-72	-108	-138	-163	-164	-116	-107	-84	-63	59	89	0	0	0
Discontinued operations, net
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	1	48	453	848	2,073	2,330	2,069	1,781	720	634	572	1,031	1,008	1,134	1,081	534	460	261	365	439	445	462	428	0	0	0
Net income
1,233	1,009	830	776	573	685	692	613	698	628	800	873	898	4,480	4,391	4,379	4,449	908	921	947	766	658	547	708	927	1,905	2,173	2,018	1,790	881	604	480	954	935	1,026	942	371	295	145	258	354	382	521	518	0	0	0
Operating Partnership
-	-	-	-	-	-	-	-	-	-	29	32	33	-	168	167	170	34	34	35	28	24	20	26	35	75	87	83	75	38	26	20	41	40	45	41	16	13	6	12	18	20	29	29	0	0	0
Preference Interests and Units
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0
Partially Owned Properties
15	3	3	3	2	2	1	1	2	2	16	16	16	16	3	3	3	3	3	2	2	2	2	1	-0	-0	-0	-0	0	0	0	1	1	0	-0	-1	-1	-0	-0	-0	-0	-0	0	1	0	0	0
Net income attributable to controlling interests
1,174	970	797	745	550	657	665	589	671	603	755	825	848	4,292	4,219	4,207	4,275	870	883	908	734	631	524	679	892	1,830	2,086	1,935	1,714	841	577	458	911	893	980	901	355	283	139	246	336	362	492	487	0	0	0
ALLOCATION OF NET INCOME:
Preferred distributions
-	-	-	-	-	-	-	-	-	-	3	3	3	-	3	3	3	3	3	3	4	4	4	4	4	4	-16	-15	-12	-10	12	13	13	13	13	14	14	14	14	14	14	14	14	14	0	0	0
Earnings per Unit – basic:
Premium on redemption of Preferred Shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3	2	0	0	-	0	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Net income available to Common Shares
-	-	-	-	-	-	-	-	-	-	752	822	845	-	4,215	4,203	4,271	863	876	901	727	627	520	675	887	1,826	2,082	1,924	1,701	826	559	445	897	879	966	887	341	269	125	232	322	347	478	472	0	0	0
Income from continuing operations available to Units
-	-	-	-	-	-	-	-	-	-	-	-	-	0.74	0.57	0.60	9.84	0.55	0.54	0.79	0.49	0.59	0.61	0.30	0.21	0.19	-0.03	-0.15	-0.47	0.25	0.26	-0.01	-0.05	-0.36	0.08	0.03	-0.04	-0.49	-0.01	-0.05	-0.04	-0.34	0.02	0.03	0.03	0.08	0.12
Net income available to Units
0.83	0.78	0.72	0.83	0.28	0.32	0.58	0.31	0.57	0.35	0.37	0.53	0.39	0.74	0.57	0.60	9.84	0.55	0.54	0.79	0.49	0.60	0.61	0.30	0.21	0.20	1.04	0.90	3.01	1.19	0.72	0.33	0.47	0.33	0.35	1.87	0.42	0.66	0.09	0.02	0.18	0.15	0.48	0.35	0.28	0.64	0.47
Earnings per Unit – diluted:
Weighted average Common Shares outstanding
-	-	-	-	-	-	-	-	-	-	366	366	366	-	365	365	364	363	363	363	363	362	361	360	360	360	359	359	337	310	301	300	298	296	295	294	292	285	282	282	280	275	273	272	272	270	269
Income from continuing operations available to Units
-	-	-	-	-	-	-	-	-	-	-	-	-	0.77	0.56	0.59	9.76	0.56	0.53	0.78	0.49	0.59	0.61	0.30	0.21	0.19	-0.03	-0.15	-0.47	0.24	0.26	-0.01	-0.05	-0.36	0.08	0.03	-0.04	-0.50	-0.01	-0.04	-0.04	-0.34	0.02	0.03	0.03	0.08	0.12
Net income available to Units
0.83	0.78	0.71	0.83	0.28	0.31	0.58	0.31	0.57	0.34	0.37	0.53	0.39	0.77	0.56	0.59	9.76	0.56	0.53	0.78	0.49	0.59	0.61	0.30	0.21	0.20	1.04	0.90	3.01	1.17	0.71	0.33	0.47	0.36	0.34	1.85	0.42	0.66	0.09	0.02	0.18	0.15	0.48	0.35	0.28	0.63	0.46
Weighted average Units outstanding
386	387	386	386	385	384	383	383	383	382	382	382	382	381	382	382	382	380	380	380	380	379	377	377	376	360	359	359	337	361	318	300	298	261	312	312	292	285	282	282	280	226	290	289	288	290	290
Distributions declared per Common Share outstanding
-	-	-	-	-	-	-	-	-	-	0.50	0.50	0.50	-	3.50	0.50	8.50	0.55	0.55	0.55	0.55	0.50	0.50	0.50	0.50	0.65	0.40	0.40	0.40	0.76	0.33	0.33	0.33	-	0.33	0.33	0.33	-	0.33	0.33	0.33	-	0.33	0.48	0.48	0.48	0.48
ERPOP [Member]
Rental income
2,720	2,700	2,669	2,636	2,607	2,577	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fee and asset management
0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total revenues
2,720	2,701	2,669	2,637	2,607	2,578	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property and maintenance
447	446	445	440	436	429	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Real estate taxes and insurance
372	366	359	359	357	357	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property management
96	95	96	96	95	92	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General and administrative
51	52	53	54	52	53	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation
839	831	818	801	793	785	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total expenses
1,807	1,792	1,772	1,752	1,735	1,719	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain (loss) on sales of real estate properties
655	447	269	253	114	256	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment
-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating income
1,568	1,356	1,166	1,137	986	1,115	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest and other income
4	2	2	9	10	15	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other expenses
17	18	13	18	17	17	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Expense incurred, net
380	390	381	406	392	413	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred financing costs
11	11	10	11	9	11	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels
1,163	939	763	711	577	688	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income and other tax (expense) benefit
-2	-2	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) from investments in unconsolidated entities
65	65	66	66	-3	-3	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain (loss) on sales of land parcels
-	2	3	0	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
1,233	1,009	830	776	573	685	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Partially Owned Properties
15	3	3	3	2	2	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to controlling interests
1,218	1,006	827	773	571	682	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preference Units
3	3	3	3	3	3	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General Partner
1,171	967	794	742	547	654	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Limited Partners
43	36	29	28	20	24	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income available to Units
1,215	1,003	824	770	567	679	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income available to Units
0.83	0.78	0.72	0.83	0.28	0.32	0.58	0.31	0.57	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average Units outstanding
384	384	383	383	382	381	380	380	380	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income available to Units
0.83	0.78	0.71	0.83	0.28	0.31	0.58	0.31	0.57	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average Units outstanding
386	387	386	386	385	384	383	383	383	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-